Several large investors recently adjusted their positions in Prudential Financial (PRU). AQR Capital Management increased its stake by 97.4%, owning 724,244 shares worth $84.87 million after adding 357,300 shares. Swedbank acquired shares valued at approximately $35.86 million in Q1. Legal & General Group raised its stake by 9.4% to 3,542,400 shares worth $415.13 million after buying 305,143 shares. OFI Invest increased its holdings by 10,529.7%, now owning 155,513 shares valued at $17 million. Cullinan Associates also boosted its stake by 2,355%, now holding 151,598 shares worth $17.8 million. Institutional investors own 56.83% of PRU stock.
Analysts’ Ratings
Analysts have commented on PRU stock recently. Keefe, Bruyette & Woods rated it as “market perform” with a target price of $121. Morgan Stanley lowered its target from $123 to $122. Citigroup raised its price target to $120 with a “neutral” rating. Bank of America increased its target from $109 to $118. Piper Sandler also raised its target from $121 to $127, maintaining a “neutral” rating. Overall, the stock has an average rating of “Hold” with a target price of $123.69.
Insider Trading
On October 8, Insurance Co of America Prudential bought 261,059 shares at $27.58 each, increasing its total ownership to 4,208,549 shares valued at $116.07 million. EVP Ann M. Kappler sold 2,839 shares on August 21 at an average price of $113.43, reducing her ownership to 14,535 shares worth around $1.65 million. Insiders hold 0.31% of PRU.
Current Trading Status
PRU shares opened at $127.40. The company’s market cap is $45.74 billion with a PE ratio of 21.67. The stock’s 1-year low is $87.95, and the high is $128.52. Analysts project an EPS of 13.29 for the year.
Dividend Announcement
Prudential announced a quarterly dividend of $1.30 paid on September 12 to stockholders on record as of August 20, yielding 4.08% annually with a payout ratio of 88.44%.
About Prudential Financial
Prudential Financial, Inc. offers insurance, investment management, and financial services globally, operating through various segments like PGIM and Individual Life.
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